How much will my Rebate be?

President Bush receintly signed the economic stimulas package into law. This means that sometime this summer, you'll be getting a rebate check in the mail from the IRS. This is an advance on the reduced taxes for 2008.

According to the IRS, the vast majority of Americans who qualify for the payment will not have to do anything other than file their 2007 individual income tax return to receive their payment this year. The IRS will use information on the tax return to determine eligibility and calculate the amount of the stimulus payments.

Please be aware that there are identity theft scams involving the proposed advance payment checks.

So exactly how much will your rebate be? Flexo at Consumerism Commentary recently shared a handy little tax rebate calculator. Check it out.